Insider Buying: Angel Oak Mortgage REIT (NYSE:AOMR) Director Acquires $46,472.00 in Stock

Angel Oak Mortgage REIT Inc. (NYSE:AOMR) Director Landon Parsons bought 7,400 shares of the firm’s stock in a transaction that occurred on Thursday, November 5th. The shares were purchased at an average price of $6.28 per share, for a total transaction of $46,472.00. Following the transaction, the director owned 57,232 shares of the company’s stock, valued at $359,416.96. The trade was a 14.85% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Angel Oak Mortgage REIT Stock Down 3.6%

AOMR stock opened at $5.95 on Friday. The stock has a market capitalization of $139.14 million, a P/E ratio of -13.83 and a beta of 1.30. The company has a debt-to-equity ratio of 10.53, a quick ratio of 7.16 and a current ratio of 10.21. Angel Oak Mortgage REIT Inc. has a one year low of $5.94 and a one year high of $9.30. The company has a 50 day moving average price of $7.49 and a two-hundred day moving average price of $8.39.

Angel Oak Mortgage REIT (NYSE:AOMR) last issued its quarterly earnings results on Tuesday, November 3rd. The company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.04). Angel Oak Mortgage REIT had a positive return on equity of 10.57% and a negative net margin of 5.74%. The business had revenue of ($10.63) million for the quarter, compared to analysts’ expectations of $11.39 million. As a group, sell-side analysts expect that Angel Oak Mortgage REIT Inc. will post 1.14 EPS for the current year.

Angel Oak Mortgage REIT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 30th. Investors of record on Monday, November 23rd will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 21.5%. The ex-dividend date is Monday, November 23rd. Angel Oak Mortgage REIT’s dividend payout ratio is presently -297.67%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. JonesTrading cut their price objective on Angel Oak Mortgage REIT from $10.50 to $9.50 and set a “buy” rating on the stock in a report on Tuesday, November 3rd. Wells Fargo & Company cut their target price on Angel Oak Mortgage REIT from $10.00 to $8.00 and set an “overweight” rating on the stock in a research report on Thursday. Wall Street Zen raised Angel Oak Mortgage REIT from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. B. Riley Financial reduced their target price on Angel Oak Mortgage REIT from $13.00 to $10.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, BTIG Research decreased their price target on shares of Angel Oak Mortgage REIT from $10.00 to $9.00 and set a “buy” rating for the company in a research report on Tuesday, October 6th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $9.25.

Institutional Investors Weigh In On Angel Oak Mortgage REIT

A number of institutional investors have recently made changes to their positions in the company. BlackRock Inc. bought a new position in Angel Oak Mortgage REIT during the second quarter worth $12,210,000. Jacobs Asset Management LLC increased its stake in Angel Oak Mortgage REIT by 30.4% during the first quarter. Jacobs Asset Management LLC now owns 375,000 shares of the company’s stock valued at $3,082,000 after purchasing an additional 87,500 shares during the last quarter. Riverbridge Partners LLC increased its stake in Angel Oak Mortgage REIT by 9.4% during the third quarter. Riverbridge Partners LLC now owns 217,721 shares of the company’s stock valued at $1,589,000 after purchasing an additional 18,643 shares during the last quarter. North Ground Capital bought a new stake in Angel Oak Mortgage REIT during the second quarter valued at $1,492,471. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Angel Oak Mortgage REIT during the second quarter worth $485,000. 80.15% of the stock is currently owned by institutional investors.

Angel Oak Mortgage REIT Company Profile

Angel Oak Mortgage REIT, Inc is a real estate investment trust focused on investing in residential mortgage assets. The company primarily targets non-qualified mortgage loans, or non-QM loans, which are residential mortgages made to creditworthy borrowers whose financial profiles may not fit traditional agency underwriting standards.

Its investment portfolio may also include residential mortgage-backed securities and other mortgage-related assets. Angel Oak Mortgage REIT seeks to generate income through interest payments and other returns from these investments, with an emphasis on loans secured by residential properties in the United States.

Angel Oak Mortgage REIT is externally managed by Angel Oak Capital Advisors, an investment management firm specializing in mortgage credit and related strategies.